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COMMODITIES GURU JIM ROGERS:“I Suspect They’ll Take The Pension Plans Next; I For One Am Worried, And I’m Taking Preparations”

 
Anonymous Coward
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04/06/2013 06:08 AM
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COMMODITIES GURU JIM ROGERS:“I Suspect They’ll Take The Pension Plans Next; I For One Am Worried, And I’m Taking Preparations”
Guys. This is the opinion of some "gurus". Yes, broke governments like the USA may try to confiscate your savings.
I got my pension funds confiscated in 2008 , or better said "nationalized".

Just a part of this article:


"...With respect to which assets governments will likely be coming for next, Jim said, ”401k plans, IRA’s, and pensions plans which the government knows about [may be next]…They’re rationale would be, ‘Well most people haven’t been doing well in their IRAs and pension plans for the past several years, so we’re going to help you. We’re going to take your pension plan and give you government bonds so that you have a guaranteed return.” "

whole article :
[link to bullmarketthinking.com]


I am argentinian. And I am a bank analyst. I have already been there when TSHTF TWICE. bank holidays, bank runs, hyperinflation, pension funds "nationalization" in 2008:

[link to online.wsj.com]

Bank meltdown, devaluation, economic meltdown...food riots . Do i continue ?


So . I am spending MY KARMA points BIG time telling you this:

GET out of government PENSION programmes. Specially from broke governments pension programmes.


You won´t get pension funds. You will get devaluated pennies on the dollar for your retirement or no money at all. They will default, confiscate ,"nationalize" or something else. But you won´t get 100% +return of your money. Guaranteed if your government is broke today.

Which is the case of most of the developed world countries.


Ask me a question if you wish. I got my retirement funds "nationalized" and now these funds are being used in "social" programmes ( negative return loans for housing)
Yeah negative returns will be awesome for my retirement!!

I spent all the karma for you here. Ask me a question if you wish.
Anonymous Coward (OP)
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04/06/2013 06:09 AM
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Re: COMMODITIES GURU JIM ROGERS:“I Suspect They’ll Take The Pension Plans Next; I For One Am Worried, And I’m Taking Preparations”
THIS IS YOUR HOST, Strongman Shelford

And THIS, is GODLIKEPRODUCTIONS.COM


clappa

Start the discussion!
5a
Anonymous Coward
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04/06/2013 06:12 AM
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Re: COMMODITIES GURU JIM ROGERS:“I Suspect They’ll Take The Pension Plans Next; I For One Am Worried, And I’m Taking Preparations”
eww i'ma scared
Anonymous Coward (OP)
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04/06/2013 06:15 AM
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Re: COMMODITIES GURU JIM ROGERS:“I Suspect They’ll Take The Pension Plans Next; I For One Am Worried, And I’m Taking Preparations”
eww i'ma scared
 Quoting: Anonymous Coward 16591630


fear is your enemy. Law of Attraction will operate against you. Use wisdom and attract positive things with your thoughts.
You receive free knowledge use it. Luck is a friend of Action.
Anonymous Coward
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04/06/2013 06:18 AM
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Re: COMMODITIES GURU JIM ROGERS:“I Suspect They’ll Take The Pension Plans Next; I For One Am Worried, And I’m Taking Preparations”
They last "floated" this idea in 2008 as a trial baloon. Whenever you see something "put out there" as they did then, you know that eventually it will come to fruition. It may not be next year, but it is coming. You have been warned. Discretion is the better part of valor. Prepare. Cash out your 401k's and IRA's now and move them into real physical assets that can either generate an income stream or be hidden and outside the reach of government agents. (ie, not in a safety deposit box and NOT in a safe in your home).
Anonymous Coward
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04/06/2013 06:18 AM
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Re: COMMODITIES GURU JIM ROGERS:“I Suspect They’ll Take The Pension Plans Next; I For One Am Worried, And I’m Taking Preparations”
eww i'ma scared
 Quoting: Anonymous Coward 16591630


fear is your enemy. Law of Attraction will operate against you. Use wisdom and attract positive things with your thoughts.
You receive free knowledge use it. Luck is a friend of Action.
 Quoting: Strongman Shelford


clappa
Anonymous Coward (OP)
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Argentina
04/06/2013 06:20 AM
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Re: COMMODITIES GURU JIM ROGERS:“I Suspect They’ll Take The Pension Plans Next; I For One Am Worried, And I’m Taking Preparations”
They last "floated" this idea in 2008 as a trial baloon. Whenever you see something "put out there" as they did then, you know that eventually it will come to fruition. It may not be next year, but it is coming. You have been warned. Discretion is the better part of valor. Prepare. Cash out your 401k's and IRA's now and move them into real physical assets that can either generate an income stream or be hidden and outside the reach of government agents. (ie, not in a safety deposit box and NOT in a safe in your home).
 Quoting: Anonymous Coward 19284287


>THIS (bold letters)
Anonymous Coward (OP)
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04/06/2013 06:20 AM
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Re: COMMODITIES GURU JIM ROGERS:“I Suspect They’ll Take The Pension Plans Next; I For One Am Worried, And I’m Taking Preparations”
eww i'ma scared
 Quoting: Anonymous Coward 16591630


fear is your enemy. Law of Attraction will operate against you. Use wisdom and attract positive things with your thoughts.
You receive free knowledge use it. Luck is a friend of Action.
 Quoting: Strongman Shelford


clappa
 Quoting: Anonymous Coward 37540382


fellow argentinian, I salute you

clappa
Anonymous Coward (OP)
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04/06/2013 06:21 AM
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Re: COMMODITIES GURU JIM ROGERS:“I Suspect They’ll Take The Pension Plans Next; I For One Am Worried, And I’m Taking Preparations”
WE ARE ALERT.
WE NEVER GIVE UP. WE NEVER SURRENDER
IF THERE IS A CONSPIRACY OUT THERE, WE KNOW
IF THERE IS DOOM OUT THERE, WE KNOW
IF THERE IS AN EARTHQUAKE OUT THERE , WE KNOW

WE DISCUSS
WE BUMP
WE DEBUNK


WE ARE THE GLP-ple. From all the countries. From all over the world.

WE HAVE OUR INSIDERS
AND WE HAVE OUR UNCLES
WE ARE CONNECTED TO EACH OTHER


WE ARE ALERT
WE NEVER GIVE UP. WE NEVER SURRENDER.

WE ARE THE GLP-PLE.
so now , GLP-PLE... STAND UP.
WE ARE THE CHAMPIONS.



and WAVE YOUR FLAG. THE GLP FLAG!



This is my tribute to all the GLP people.
Thanks to you , I learnt a lot.

Thanks to you , I am awakened.


Strongman Shelford - Dec 2012

GLP human, I salute you!

5a

clappa

source: Thread: WE ARE the "G.L.P.-ple". JOIN US!

 Quoting: Strongman Shelford
KarinZa

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04/06/2013 06:31 AM
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Re: COMMODITIES GURU JIM ROGERS:“I Suspect They’ll Take The Pension Plans Next; I For One Am Worried, And I’m Taking Preparations”
They last "floated" this idea in 2008 as a trial baloon. Whenever you see something "put out there" as they did then, you know that eventually it will come to fruition. It may not be next year, but it is coming. You have been warned. Discretion is the better part of valor. Prepare. Cash out your 401k's and IRA's now and move them into real physical assets that can either generate an income stream or be hidden and outside the reach of government agents. (ie, not in a safety deposit box and NOT in a safe in your home).
 Quoting: Anonymous Coward 19284287


Yes. And in '09 we did it! Including the 529. People won't listen though. And if you have a forced 401 thru your company, do money market and invest at the minimum required.
You better have already gone to the mattresses, boys.

Karma for you OP when I'm off my phone :-)
"I may be paranoid, but not an android."
Madmacs

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04/06/2013 06:40 AM

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Re: COMMODITIES GURU JIM ROGERS:“I Suspect They’ll Take The Pension Plans Next; I For One Am Worried, And I’m Taking Preparations”
bump
Anonymous Coward
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04/06/2013 06:43 AM
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Re: COMMODITIES GURU JIM ROGERS:“I Suspect They’ll Take The Pension Plans Next; I For One Am Worried, And I’m Taking Preparations”
How do you get out of your pension if you have one, but aremid career? I am fully vested, but years from qualifying retirement.
Anonymous Coward (OP)
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04/06/2013 07:01 AM
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Re: COMMODITIES GURU JIM ROGERS:“I Suspect They’ll Take The Pension Plans Next; I For One Am Worried, And I’m Taking Preparations”
How do you get out of your pension if you have one, but aremid career? I am fully vested, but years from qualifying retirement.
 Quoting: Anonymous Coward 35179157


I am just talking to those guys who can choose to opt-out

in some countries you can´t say "goodbye". you are at mercy of the government.
Anonymous Coward
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04/06/2013 07:11 AM
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Re: COMMODITIES GURU JIM ROGERS:“I Suspect They’ll Take The Pension Plans Next; I For One Am Worried, And I’m Taking Preparations”
The Canadian Pension Plan is over-funded and can take a prolonged hit on the fund if the economy tanks and/or as the Baby Boomers work through the system.

A lot of the fund is invested in transportation infrastructure throughout the world.

I am not worried about my government pension and will gladly keep paying my $4K contribution each year.
Vic-chick13

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04/06/2013 07:11 AM
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Re: COMMODITIES GURU JIM ROGERS:“I Suspect They’ll Take The Pension Plans Next; I For One Am Worried, And I’m Taking Preparations”
eww i'ma scared
 Quoting: Anonymous Coward 16591630


fear is your enemy. Law of Attraction will operate against you. Use wisdom and attract positive things with your thoughts.
You receive free knowledge use it. Luck is a friend of Action.
 Quoting: Strongman Shelford


Well said. hf
Anonymous Coward
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04/06/2013 07:20 AM
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Re: COMMODITIES GURU JIM ROGERS:“I Suspect They’ll Take The Pension Plans Next; I For One Am Worried, And I’m Taking Preparations”
Well, a hyperinflation scenario has been forecasted to hit the US by the end of 2014. I'm guessing that would mean 401K, IRA, physical paper, and so on would be worthless.
Anonymous Coward (OP)
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04/06/2013 07:22 AM
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Re: COMMODITIES GURU JIM ROGERS:“I Suspect They’ll Take The Pension Plans Next; I For One Am Worried, And I’m Taking Preparations”
The Canadian Pension Plan is over-funded and can take a prolonged hit on the fund if the economy tanks and/or as the Baby Boomers work through the system.

A lot of the fund is invested in transportation infrastructure throughout the world.

I am not worried about my government pension and will gladly keep paying my $4K contribution each year.
 Quoting: Anonymous Coward 37536239


oh really?

Sorry to spoil the party. Please check gold perfomance against the canadian dollar ;)
in the last 10 years

good luck :)

[link to www.theglobeandmail.com]
Anonymous Coward
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04/06/2013 07:36 AM
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Re: COMMODITIES GURU JIM ROGERS:“I Suspect They’ll Take The Pension Plans Next; I For One Am Worried, And I’m Taking Preparations”
The Canadian Pension Plan is over-funded and can take a prolonged hit on the fund if the economy tanks and/or as the Baby Boomers work through the system.

A lot of the fund is invested in transportation infrastructure throughout the world.

I am not worried about my government pension and will gladly keep paying my $4K contribution each year.
 Quoting: Anonymous Coward 37536239


oh really?

Sorry to spoil the party. Please check gold perfomance against the canadian dollar ;)
in the last 10 years

good luck :)

[link to www.theglobeandmail.com]
 Quoting: Strongman Shelford


Pension plan invested in gold.
Anonymous Coward
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04/06/2013 07:37 AM
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Re: COMMODITIES GURU JIM ROGERS:“I Suspect They’ll Take The Pension Plans Next; I For One Am Worried, And I’m Taking Preparations”
The Canadian Pension Plan is over-funded and can take a prolonged hit on the fund if the economy tanks and/or as the Baby Boomers work through the system.

A lot of the fund is invested in transportation infrastructure throughout the world.

I am not worried about my government pension and will gladly keep paying my $4K contribution each year.
 Quoting: Anonymous Coward 37536239


oh really?

Sorry to spoil the party. Please check gold perfomance against the canadian dollar ;)
in the last 10 years

good luck :)

[link to www.theglobeandmail.com]
 Quoting: Strongman Shelford


Pension plan invested in gold.
 Quoting: Anonymous Coward 37536239


And hard assets. If money became worthless a new currency is developed and the assets start raking in the new money.

It is a can't fail proposition.
Anonymous Coward (OP)
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04/06/2013 07:52 AM
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Re: COMMODITIES GURU JIM ROGERS:“I Suspect They’ll Take The Pension Plans Next; I For One Am Worried, And I’m Taking Preparations”
[link to www.timescolonist.com]
Anonymous Coward
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04/06/2013 08:07 AM
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Re: COMMODITIES GURU JIM ROGERS:“I Suspect They’ll Take The Pension Plans Next; I For One Am Worried, And I’m Taking Preparations”
oyesbutt
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Re: COMMODITIES GURU JIM ROGERS:“I Suspect They’ll Take The Pension Plans Next; I For One Am Worried, And I’m Taking Preparations”
Good morning Strongman! is the weather any better there? I would also advise people to clean out their IRA's! Most people of the USA middle class, who own their homes, either lost their homes(savings) or they lost one half to one third the value of their homes. What happened to me, I lost approx twenty years of savings due to devaluation of my home, my home was my savings acct. I still have it, but it is worth half of what I spent to buy it, an make payments for almost 15 years now. It is money, poof gone.
Anonymous Coward (OP)
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04/06/2013 08:09 AM
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Re: COMMODITIES GURU JIM ROGERS:“I Suspect They’ll Take The Pension Plans Next; I For One Am Worried, And I’m Taking Preparations”
Good morning Strongman! is the weather any better there? I would also advise people to clean out their IRA's! Most people of the USA middle class, who own their homes, either lost their homes(savings) or they lost one half to one third the value of their homes. What happened to me, I lost approx twenty years of savings due to devaluation of my home, my home was my savings acct. I still have it, but it is worth half of what I spent to buy it, an make payments for almost 15 years now. It is money, poof gone.
 Quoting: SpiderJones


"your house is not an asset."
Robert Kiyosaki
Anonymous Coward
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04/06/2013 08:28 AM
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Re: COMMODITIES GURU JIM ROGERS:“I Suspect They’ll Take The Pension Plans Next; I For One Am Worried, And I’m Taking Preparations”
To DESTROY DEBT you HAVE to DESTROY SAVINGS.

Think about it.

Debt can NOT be created until someone has saved money that can be borrowed.

If you then "reduce" the amount of the debt you are ALSO SIMULTANEOUSLY reducing the savings that the debt is to go to repay.

Debt is the opposite side of the coin from savings.

Same coin, just different sides.


once you understand that UNDERLYING BASIC CONCEPT (debt = savings: destroy one you automatically destroy the other), then you can see the hoops that governments try to jump through as debt becomes uncollectable to first obtain MORE of people's savings to keep the game going a while longer and then to somehow try to destroy people's savings without them realizing that what is going on is a CALCULATED destruction of their savings.

Sovereign Debt at it's core is not just merely owing more than you can repay even the interest on out of current economic activity ... but includes promised social welfare payments and pension payments!! THIS IS A CONCEPT THAT VIRTUALLY NO ACADEMIC ECONOMISTS EVEN RECOGNIZES EXISTS!!. It is however a key element in the "debt must be repaid or repudiated" financial calculation.

Seizing Pensions is a time honored way to seize the saver's money, as is people keeping their money in a State Owned bank. Inflation is another way to steal from the savers. "Taxes" on Savings or on Capital is another way.

As countries struggle to make current payments on excessive amounts of debts (including guaranteed social welfare transfer payments - see above) that are in excess of the country's ability to generate income to even pay the current interest or payments required look for governments to increasingly try EVERYTING to squeeze the Saver's Class and the actual productive members of society so as to protect the Creditor Class (since it is the Creditor Class that generally controls the levers of political power in most western societies).

So Mr. Sheldon is correct ... this AND OTHER SCHEMES are coming to a place near you, and in the very near future!! (Europe probably first, but eventually reaching even that port of last refuge, the United States)

Old Trader
(and Longwave Economic follower)
Anonymous Coward
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04/06/2013 08:29 AM
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Re: COMMODITIES GURU JIM ROGERS:“I Suspect They’ll Take The Pension Plans Next; I For One Am Worried, And I’m Taking Preparations”
correction "Strongman Shelford" in place of Sheffield
Anonymous Coward
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04/06/2013 08:32 AM
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Re: COMMODITIES GURU JIM ROGERS:“I Suspect They’ll Take The Pension Plans Next; I For One Am Worried, And I’m Taking Preparations”
my home was my savings acct
 Quoting: SpiderJones


What does that even mean?
Anonymous Coward
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04/06/2013 08:36 AM
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Re: COMMODITIES GURU JIM ROGERS:“I Suspect They’ll Take The Pension Plans Next; I For One Am Worried, And I’m Taking Preparations”
Good morning Strongman! is the weather any better there? I would also advise people to clean out their IRA's! Most people of the USA middle class, who own their homes, either lost their homes(savings) or they lost one half to one third the value of their homes. What happened to me, I lost approx twenty years of savings due to devaluation of my home, my home was my savings acct. I still have it, but it is worth half of what I spent to buy it, an make payments for almost 15 years now. It is money, poof gone.
 Quoting: SpiderJones


"your house is not an asset."
Robert Kiyosaki
 Quoting: Strongman Shelford


When should we stop paying our mortgages???
bornatexan

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04/06/2013 08:38 AM
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Re: COMMODITIES GURU JIM ROGERS:“I Suspect They’ll Take The Pension Plans Next; I For One Am Worried, And I’m Taking Preparations”
Fortuneately I am safe since I practically have no pension at all and no savings. All I have is me and I am "hands off".

Very scary though.

By the way, improve your Karma even more by letting me know the word on the streets. Any talk of any of your neighbors hating Americans enough to join Iran and North Korea in an attack?

Thanks.
I moved in with my elderly parents after my dad had a stroke 2 years ago. Now we are like the three muscateers. I kept buying gallons of water and can goods each time I went for groceries and if on-sale stacks of bottled water...finally Mama politely asked whats up with all the water. I finally came out and told her. I think it went well, the other day she was talking to a real estate lady. I asked why? She said , I was reading and we need a bug-out place...hehe true story!
Well enough about me.
Carol B.
TRUMP!

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04/06/2013 08:38 AM

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Re: COMMODITIES GURU JIM ROGERS:“I Suspect They’ll Take The Pension Plans Next; I For One Am Worried, And I’m Taking Preparations”
So, just what should I do with my ira's, sep's etc?

What preps is Jim Rogers taking?
Anonymous Coward
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04/06/2013 08:39 AM
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Re: COMMODITIES GURU JIM ROGERS:“I Suspect They’ll Take The Pension Plans Next; I For One Am Worried, And I’m Taking Preparations”
WTF?

I've worked since I was 16 years old.

I am now 45. I already know there will be no social security when I retire, thanks to the government's "help".

I quite contributing to the 401k, because there is no since giving them more than I already do.

Now they come for my pension?

Is there anyway to protect myself from my greedy ass government?
Anonymous Coward
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04/06/2013 08:44 AM
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Re: COMMODITIES GURU JIM ROGERS:“I Suspect They’ll Take The Pension Plans Next; I For One Am Worried, And I’m Taking Preparations”
my home was my savings acct
 Quoting: SpiderJones


What does that even mean?
 Quoting: Anonymous Coward 37021243


means I was stupid to consider the value of my home as an asset...LOL





GLP